23d • Credit Literacy 💳
Credit Myth: Carrying a Balance Builds Your Score
A lot of people still believe you need to carry a balance and pay interest to build credit.
That is completely false.
You do NOT need to carry a balance.
You do NOT need to pay interest.
You do NOT need to “leave something on the card.”
Your credit score improves from:
• On-time payments
• Low utilization
• Age of accounts
• Responsible behavior
Paying interest does nothing for your score. It just makes the bank richer.
Have you ever heard this myth before?
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Credit Myth: Carrying a Balance Builds Your Score
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